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What is the FDIC?
The Federal Deposit Insurance Corporation (FDIC) is a governmental
agency, created in 1933, which insures deposits up to $100,000 per
depositor, per bank, subject to certain conditions. The FDIC, in
addition to providing you with this insurance, requires that
insured financial institutions follow an established set of
requirements to promote safe and sound banking practices.
Why is this important?
Subject to applicable limits,
FDIC deposit insurance protects up to a total $100,000 of
your:
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Checking Accounts
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Money Market Accounts
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Deposit Accounts
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Savings Accounts
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Certificates of Deposit
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Retirement Accounts*
*These may be separately insured
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